MEW Token Surges 100% amid Controversy and Massive Marketing

by

As a seasoned researcher with over a decade of experience in the cryptocurrency market, I have witnessed numerous projects surge and crash. The current rise of “Cat in a Dogs World” (MEW) has piqued my interest due to its impressive growth rate and the buzz it has generated within the meme coin community.

The Solana-based “Cat in a Dog’s World” (MEW) cryptocurrency has experienced a significant surge of over 100% in value during the past week, attracting buzz within the market. Introduced in March, this innovative token aspires to challenge the dominance of meme coins such as Dogecoin (DOGE) and Dogewhiz (WIF) in the themed dog market.

Over the past ten days, MEW‘s market value has experienced a significant increase of 180%. Its market cap was evaluated at $268 million on July 14. Currently, it stands at an impressive $750 million, placing it as the ninth most valuable meme coin according to CoinMarketCap. An astounding trading volume of $2.07 billion was recorded for MEW on a recent Tuesday. However, this figure has since decreased to a more modest $260 million.

At present, the meme token running on the Solana platform is priced at $0.0083. This represents a more than 10% increase in value over the past 24 hours. However, it’s important to note that the token has dropped by nearly 18% since its all-time peak of $0.01034, which was reached on March 31.

As a researcher, I’ve been observing the intriguing developments surrounding MEW – its captivating storyline, innovative airdrop program, and remarkable growth rate have piqued the interest of numerous investors. Recently, this momentum has been further fueled by new listings and strategic collaborations. To provide some context, Binance Futures initiated the launch of the USDⓈ-M MEW Perpetual Contract on July 17. Moreover, crypto exchanges WhiteBIT and ProBit have also announced their intent to list the MEW token in recent times.

Simultaneously, MEW is gaining more traction through alluring branding and advertisements. Notably, influential figures in the crypto sphere have recently endorsed the meme token on X, formerly known as Twitter. Additionally, the logo of Cat in a Dogs World has been incorporated into Pixelverse’s Telegram stickers for their Web 3.0 gaming project.

The MEW team has coinaged the term “global cat season” to describe this current bull market, predicting that tokens with feline themes will outshine other meme coins. Consequently, several cat-themed meme tokens have experienced a significant rise in value. For example, CatCoin (CAT) has undergone a 60% increase in worth during the previous seven days. Likewise, MeowCat (MEOW) has recorded an impressive surge of 110% within the same timeframe.

Community Divided

The swift rise of the MEW token has drawn some skepticism, with a user on X account sounding the alarm over undisclosed paid promotions from key opinion leaders (KOLs). According to this user, named “cex offender,” MEW is providing influencers with approximately $250,000 in USDC to endorse the token without disclosing the compensation. The account further warned of potential regulatory oversight, implying that the project may face scrutiny for such practices.

“During this cryptocurrency market boom, it’s essential to maintain transparency since regulatory authorities may conduct thorough investigations once the bull run concludes. It’s likely that my actions could be scrutinized as well.”

As an analyst, I’ve come across some concerns raised about the token in various Reddit forums. Some investors have urged caution before making any investments. However, there are still other Reddit communities and X accounts that continue to advocate for MEW, resulting in a split opinion within the community.

Read More

2024-07-24 14:24